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Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $463,358 Cost of merchandise sold during year 205,692 Accounts receivable, beginning of year 46,704 Accounts receivable, end of year 51,670 Merchandise inventory, beginning of year 33,192 Merchandise inventory, end of year 39,686 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number. a.59 days b.65 days c.129 days d.70 days

Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $463,358 Cost of merchandise sold during year 205,692 Accounts receivable, beginning of year 46,704 Accounts receivable, end of year 51,670 Merchandise inventory, beginning of year 33,192 Merchandise inventory, end of year 39,686 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number. a.59 days b.65 days c.129 days d.70 days

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 11E
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  1. Question Content Area

    Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year.

    Sales on account during year $463,358
    Cost of merchandise sold during year 205,692
    Accounts receivable, beginning of year 46,704
    Accounts receivable, end of year 51,670
    Merchandise inventory, beginning of year 33,192
    Merchandise inventory, end of year 39,686

    Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.

    a.59 days
    b.65 days
    c.129 days
    d.70 days
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